In celebration of National Thrift Week, I want to know, what does Thrift mean to you?

To me, thrift always seemed like one of those old fashioned words from a bygone era. I always equated it to frugality, where you are smart about your money and trying to get the most out of every dollar. Thrift was virtuous and consumerism was evil. Since that era, which I think ended sometime in the 70′s or 80′s, we’ve replaced thrift with consumerism. Saving was replaced by borrowing.

I was especially interested to learn that thrift referred to more than just saving money and spending wisely. It also referred to working hard and giving back to the community, two points that are once again coming back into fashion (along with saving and spending wisely). I think we’re seeing the pendulum swing back away from frivolous borrow & spend and swing towards thrift. I think it’s a good sign. What do you think?

Templeton Press, the fine people behind this push to bring back thrift, have generously offered to give away three copies of David Blankenhorn’s Thrift: A Cyclopedia. Leave a comment sharing what thrift means to you and you will be entered to win a copy of the book. This contest will close at noon on January 30th.

The contest is now closed. Congratulations to the winners, Diane, Caitlin, and Audra, we hope you enjoy your new copy of Thrift!

In 1916, with the threat of World War I, major civic leaders launched an educational campaign known as National Thrift Week that began on Benjamin Franklin’s birthday, January 17th. As you can probably see by the calendar, it’s the 19th so I’ve already been remiss in missing the first two days!

For fifty years, National Thrift Week ran strong passing from sponsor to sponsor, starting at first with local YMCAs and local businesses looking to cash in, but eventually in 1966 the push fizzled out (read the full history of National Thrift Week). You could argue that for another forty years, thrift was replaced by consumerism and easy credit and our reversion back to thrift is one out of necessity.

Templeton Press is a non-profit book publisher founded by investor John Templeton and they’re the ones behind this push to bring back National Thrift Week. Regardless of how you feel about thrift, a quick scan of the seven days of National Thrift Week will prove to be invaluable in that each day is devoted to one simple concept in personal finance:

Have a Bank Account Day,

Invest Safely Day,

Carry Life Insurance Day,

Keep a Budget Day,

Pay Bills Promptly Day,

Own Your Home Day, and,

Share with Others Day.

On each of those days, take a few minutes out of the grind to think if you’ve got that base covered or not. If you do, wonderful! If you don’t, take a few more minutes to see what it would take to get that bullet knocked off your list.

Finally, Templeton is running a contest where you can win a $100 savings bond by writing a fifty word or less essay!